A continent-wide free-trade pact could help to realize more than $84 billion in untapped intra-African exports, according to a new report by the African Export-Import Bank.
If the export potential is tapped under the deal, intra-continental trade could rise to more than $231 billion, or about 22% of total African commerce, even if all other conditions remained the same, Afreximbank said.
Commerce under the African Continental Free-Trade Area is due to start from Jan. 1. The region could be the world’s biggest free-trade zone by area with a potential market of 1.2 billion people and a combined gross domestic product of $2.5 trillion, when the deal is fully operational by 2030. Read More.